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By Fidelis Ugbomeh
A subsidiary of Nigerian Railway Corporation, Railway Property Management Company Limited, has recorded revenue increase of 300% in the last five years.
Managing director of Railway Property Management Company Limited, Mr. Timothy Adamu Zalanga, who made this known on the sidelines of the just concluded Transportation Correspondents Association of Nigeria awards, in Lagos, said the company developed a computerised property/tenant register and digitalized all critical documents.
He explained further that “we developed standard application forms, rate table and defined lease and license tenure”.
Zalanga also spoke about transmission and conversion of all Nigerian Railway Corporation’s land into full GIS with a link to the database.
According to him, the company has an increased asset base even as it has been positioned to respond to changing business environment.
Regarding development of structures, the MD said dilapidated railway properties have been converted to modern structures like shopping complex and residence.
He stated further that the company constructed commercial outlets like markets, shopping malls, hotels, estates and guest houses.
Presently, the organisation has almost completed construction of a conference centre at Ebute-Metta Junction, in Lagos.
